2.
It has been decided that rate of refinance earlier announced
vide our circular referred to above, in respect of the captioned
scheme viz. 6.5% effective from 1st April 2002, shall continue
to be applicable for the month of May 2002. The commercial
banks shall, however, ensure that where financing facilities
are extended by them to the exporters for availing refinance
facilities under the Export Finance Scheme, their maximum
margin / spread does not exceed 1.5% p.a.
3.
The financing facilities under Part-B (Export Sales) of
the Scheme for financing Locally Manufactured Machinery
shall also attract similar mark up rate structure.
4.
Other instructions on the subject shall remain unchanged.
Please acknowledge receipt.